Taiwan Premier Su Tseng-chang announced at a cabinet meeting that Taiwan’s contract chip manufacturing firms now have a 63% share of the global market. Furthermore, Taiwanese companies handle 58% of all global integrated circuit packaging and testing. As a result, Taiwan semiconductor manufacturing has emerged as a critical player in global supply chains.
Taiwan’s semiconductor industry has risen to first place in the world in chip manufacturing and integrated circuit packaging after four decades of hard work. Taiwan also ranks second globally in integrated circuit design, with a 22% market share. Furthermore, the domestic semiconductor industry is collaborating with foreign partners to serve global clients, demonstrating that Taiwan is an essential and irreplaceable partner due to the world’s most efficient and difficult-to-duplicate production model.
The achievement began three years ago when Taiwan took advantage of the global scenario. Taiwan persuaded related industry operations to relocate from China to Taiwan. Premier Su mentions the effort that resulted in three years of economic success.
According to recent data from global indexes, the premier also stated that Taiwan ranks among the top countries in the world on criteria such as investment environment and free democracy, with the country ranking among the best in Asia in many categories. These high marks enforce even more confidence in international partners.
Nonetheless, Su emphasises the importance of Taiwan remaining vigilant. The government is developing response measures to allow domestic chip manufacturers to maintain their competitive edge and vital positions in the industry. Premier Su stated that the government is consulting with the industry to develop a future development strategy. The strategy provides more generous tax incentives, encourages R&D investment, and eases restrictions on talent recruitment, in addition to delivering Taiwan-based semiconductor manufacturers with a high-quality investment environment, including the provision of water, electricity and land.
The government’s comprehensive support for the domestic semiconductor industry will enable Taiwan to maintain its lead in advanced technology and efficient fabrication methods, secure a substantial competitive advantage, and continue contributing to the world. The country will also adhere to international norms while reassuring allies. Taiwan will maintain this stance in the future, displaying critical strengths to the world and being a team player who inspires international trust.
Meanwhile, Taiwan and Slovakia recently signed three Memoranda of Understanding (MoUs) in Bratislava, pledging to increase bilateral trade, startup exchanges, and talent-nurturing collaborations in the semiconductor sector. The Memoranda of Understanding were signed by the Taipei Importers and Exporters Association and the Council of Slovak Exporters, Taiwan’s Startup Terrace and the Slovak Business Agency, National Sun Yat-sen University, and the Slovak University of Technology in Bratislava.
The MoUs were signed during the second session of the Taiwanese-Slovak Commission on Economic Cooperation, which was attended by a Taiwanese delegation led by Deputy Foreign Minister Tsai Ming-yen. During the meeting, Tsai and Peter Gerhart, Slovak State Secretary of the Ministry of Economy, discussed ways to expand bilaterally.
